Renaissance Technologies LLC Invests $413,000 in Galectin Therapeutics Inc. $GALT

Renaissance Technologies LLC bought a new position in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 147,900 shares of the company’s stock, valued at approximately $413,000. Renaissance Technologies LLC owned 0.22% of Galectin Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GALT. Royal Bank of Canada lifted its position in Galectin Therapeutics by 1,197.3% during the fourth quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after acquiring an additional 5,699 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Galectin Therapeutics in the fourth quarter valued at approximately $43,000. Bank of America Corp DE increased its stake in shares of Galectin Therapeutics by 101.4% during the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after purchasing an additional 19,316 shares during the period. Cetera Investment Advisers bought a new position in shares of Galectin Therapeutics during the fourth quarter worth approximately $59,000. Finally, Marshall Wace LLP bought a new position in shares of Galectin Therapeutics during the second quarter worth approximately $64,000. Institutional investors and hedge funds own 11.68% of the company’s stock.

Galectin Therapeutics Stock Performance

NASDAQ:GALT opened at $3.52 on Wednesday. The company has a market cap of $231.82 million, a price-to-earnings ratio of -8.19 and a beta of 0.41. Galectin Therapeutics Inc. has a fifty-two week low of $2.03 and a fifty-two week high of $7.13. The stock has a fifty day moving average price of $3.65 and a 200-day moving average price of $3.00.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). Research analysts predict that Galectin Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

Insider Transactions at Galectin Therapeutics

In other news, Director Harold H. Shlevin sold 22,268 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $112,230.72. Following the completion of the sale, the director owned 6,500 shares of the company’s stock, valued at approximately $32,760. This represents a 77.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Khurram Jamil sold 47,467 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.04, for a total transaction of $239,233.68. Following the sale, the insider directly owned 2,037 shares of the company’s stock, valued at approximately $10,266.48. This trade represents a 95.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,162 shares of company stock worth $438,464 over the last quarter. Corporate insiders own 52.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GALT shares. Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Zacks Research upgraded Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a report on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

About Galectin Therapeutics

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.